UAE is becoming a desired destination for millionaire investors from the world over, as highlighted in the recent Henley Private Wealth Migration Report 2024. With consistent high inflows from India, the wider Middle East region, Russia, and Africa, the anticipated influx of larger numbers of Brits and Europeans looks set to see the Emirates attract nearly twice as many millionaires as its nearest rival, the US, which is projected to benefit from a net inflow of 3,800 millionaires in 2024.
Commenting on the consolidation of the UAE as a prime destination for the global millionaire tribe, the Global Markets Strategist at eToro, Ben Laidler, said: “The UAE’s growing role as a global financial center will only be boosted by its ability to keep attracting the world’s wealthiest millionaire investors, as seen in the Henley Private Wealth Migration Report 2024. Its combination of ease of doing business, low taxation, and strategic location along major global trade routes and time zones has made it a magnet for both inward investment and increasing investment sophistication.
This will further complement the young and digitally native UAE investors who have been early adopters of outperforming tech stocks and the powerful AI trend. eToro data shows that 71% of UAE investors own AI-related stocks today, with Tesla, Apple, Amazon, and NVIDIA all among the five most owned on the platform. Whilst the region has also been an early adopter of crypto, the world’s newest and best performing asset class, and stablecoins. A high 74% of UAE retail investors hold crypto assets, highlighting the country’s progressive regulatory stance and its attractiveness to sophisticated investors.”
